Since Russia launched its war on Ukraine, European countries have had to rethink their energy strategies and secure supplies of natural gas and oil from elsewhere. The economic and geopolitical effects of these changes will be profound, and they will not be confined to Europe.
MILAN – The war in Ukraine is transforming Europe’s energy map. With Europeans increasingly purchasing liquefied natural gas (LNG) from Norway, Qatar, and the United States, as well as natural gas from North African and Central Asian producers, Russia is no longer the key supplier. The composition of European oil imports is also changing now that EU bans on Russian crude and petroleum products are in force, targeting around 2.5 million barrels per day (b/d).
MILAN – The war in Ukraine is transforming Europe’s energy map. With Europeans increasingly purchasing liquefied natural gas (LNG) from Norway, Qatar, and the United States, as well as natural gas from North African and Central Asian producers, Russia is no longer the key supplier. The composition of European oil imports is also changing now that EU bans on Russian crude and petroleum products are in force, targeting around 2.5 million barrels per day (b/d).